GAS profit leaps 99% to SAR 35.5 mln in H1 2023

GAS profit leaps 99% to SAR 35.5 mln in H1 2023

15/08/2023 Argaam Exclusive

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Gas Arabian Services Co. (GAS) posted a 99% leap in H1 2023 net profit to SAR 35.5 million, compared to SAR 17.9 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 188.99 - -
Gross Income 35.73 - -
Operating Income 1.99 - -
Net Income 17.85 - -
Average Shares 158.00 - -
EPS (Riyals) 0.11 - -

The higher profit was attributed to a rise in total sales and an increase in profit share from associates during the current period.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 188.99 351.22 85.8 %
Gross Income 35.73 52.25 46.2 %
Operating Income 1.99 11.44 476.4 %
Net Income 17.85 35.48 98.8 %
Average Shares 158.00 158.00 -
EPS (Riyals) 0.11 0.22 98.8 %

Shareholders' equity, no minority interest, amounted to SAR 314.59 million by the end of the current period, compared to SAR 264.41 million a year earlier.

 

                                     Historical Development of Financials (SAR mln) 

Period

Revenues

(SAR mln)

Net Earnings

 (SAR mln)

EPS

(SAR/Share)

H1 2020

130.13

9.49

0.06

H2 2020

191.88

63.82

0.40

H1 2021

139.89

15.44

0.10

H2 2021

246.58

44.62

0.28

H1 2022

188.99

17.85

0.11

H2 2022

307.05

49.53

0.32

H1 2023

351.22

35.48

0.22

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 130.13 - 26.22 - 1.64 -
H2 2020 191.88 - 90.84 - 64.86 -
H1 2021 139.89 7.5 % 30.85 17.7 % (2.20) (233.8 %)
H2 2021 246.58 28.5 % 73.86 (18.7 %) 39.56 (39.0 %)
H1 2022 188.99 35.1 % 35.73 15.8 % 1.99 190.3 %
H2 2022 307.05 24.5 % 79.41 7.5 % 40.63 2.7 %
H1 2023 351.22 85.8 % 52.25 46.2 % 11.44 476.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 9.49 - 0.06 - 9.49 0.06
H2 2020 63.82 - 0.40 - 63.82 0.40
H1 2021 15.44 62.7 % 0.10 - 15.44 0.10
H2 2021 44.62 (30.1 %) 0.28 - 44.62 0.28
H1 2022 17.85 15.6 % 0.11 - 17.85 0.11
H2 2022 49.54 11.0 % 0.31 - 49.54 0.31
H1 2023 35.48 98.8 % 0.22 - 35.48 0.22

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 36.35 % 21.68 % 22.77 %
H1 2021 36.68 % 19.89 % 23.89 %
H2 2021 27.09 % 10.68 % 15.54 %
H1 2022 25.16 % 10.53 % 14.34 %
H2 2022 23.21 % 9.51 % 13.58 %
H1 2023 20.00 % 8.70 % 12.92 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 158.00 - - 1.11
H2 2020 158.00 0.46 0.46 1.52
H1 2021 158.00 0.50 0.50 1.48
H2 2021 158.00 0.38 0.38 1.76
H1 2022 158.00 0.40 0.40 1.67
H2 2022 158.00 0.43 0.43 2.01
H1 2023 158.00 0.54 0.54 1.99

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 18.89 18.89 4.46
H2 2022 14.07 14.07 2.99
H1 2023 13.25 13.25 3.58

Business Segments (Million)

Compared With The
Period Trade sector services segment Manufacturing sector
Q2 2020 77.30 52.32 0.51
Q4 2020 110.56 72.59 8.73
Q2 2021 77.84 55.65 6.40
Q4 2021 138.58 102.92 5.07
Q2 2022 109.72 76.22 3.05
Q4 2022 196.35 98.25 12.46
Q2 2023 256.57 89.15 5.50


Financial Ratios
Current
Market Cap (M Riyal) 2,907.20
Enterprise Value (EV) (M) 2,816.14
Shares Outstanding ((M)) 158.00
Book Value (BV) ( Riyal) 2.28
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 35.68
Price/book 8.06
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Share Price

Gas Arabian Services Co.
18.40
0.16 0.88 %

Gas Arabian Services Co. (GAS)

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